The Arch Company extends COVID support
The Arch Company is extending its support for small business tenants severely impacted by the COVID-19 pandemic.
1,450 small businesses and charities have received a rent-free period as part of The Arch Company’s £10 million Hardship Fund. Hundreds more have been able to defer some of their rent or use deposits to cover payments, helping with cashflow concerns.
The Arch Company has now announced further relief measures. Tenants with repayment deadlines in June and October 2021 can apply to extend the deadlines by 6-12 months if they are still experiencing cashflow problems near their repayment deadline. Applications can be made through the Coronavirus Support Unit and payment plans will be assessed on a case by case basis.
The Arch Company is also extending the ability for tenants to defer rent review discussions to the end of June 2021.
Any independent small business that cannot afford to pay the rent should contact The Arch Company via the Coronavirus Support Unit to apply for support.
Managing Director Adam Dakin said:
“It’s been a tough year for small businesses but those in the arches have shown incredible resilience. Our targeted financial support has helped retain nearly all of our 3,800 businesses, helping to keep over 25,000 people employed across our properties.
“As we move from Covid support to Covid recovery, we look forward to working with our tenants to help grow the unique and diverse arches community.”